FinecoBank Jumps into Zero-Fee Trading with Equity CFDs

FinecoBank, an Italian brokerage platform, has announced on Thursday the launch of commission-free trading across thousands of its contract-for-differences (CFDs) offerings.

The platform has approached its UK-based clients with the new business model and stressed that it has not increased any spread or charging any hidden fees.

According to the press release shared with Finance Magnates, the platform is witnessing a record number in executed trades and volumes after it stopped charging trading fees.

Commenting on the new model, Paolo di Grazia, deputy general manager of FinecoBank, said: “As the number of traders increases – with more people looking to actively invest – the ability to trade equity CFDs for free is a vital advantage. In the market, there is always a catch, or a case of ‘zero-commission, but.’ I am pleased to be able to offer zero-commission trading for FinecoBank customers with no compromise.”

“We have built on the fact that we are an established European bank and can continue to provide an unrivalled offering for those who are serious about trading and can benefit from our operative leverage.”

COVID-19 impact on broekrs

With operations across Europe, FinecoBank offers single account banking, credit, trading, and also investment services. Its multi-asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term enables clients to trade equities, ETFs, CFDs, FX options, and futures, under a single portfolio.

With the market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term triggered by COVID-19, the platform is also recording a spike in trade volume and new clients. According to FinecoBank, it currently serves over 1.36 million - a jump of 4 percent year-over-year.

Disrupted by Robinhood, many brokers were forced to adopt the zero-fee model as more and more traders are hesitating to pay for each trade execution.

Earlier this year, FXCM collaborated with Interactive Brokers to join the companies offering commission-free services for equity trading.